Homes England has completed a deal to provide development finance to SME developer Czero Developments for them to provide nine serviced plots for custom build homes – the first ever custom build homes in Shropshire.
The scheme, which already has six of its nine plots reserved, will be delivered at Lavender Bank in Bishops Castle, Shropshire.
Using its development facility from the Home Building Fund, Czero will provide the necessary infrastructure such as roads, drainage and utilities to deliver serviced plots for purchasers. Plot purchasers will be able to customise their homes under a design code agreed alongside the Planning Permission, before either commissioning Czero to build the home or employing their own contractor.
The local authority, Shropshire Council, is one of only 11 local authorities to have been granted Custom Build ‘Vanguard’ status by the Ministry of Housing, Communities and Local Government. This project will be the first custom build scheme in the county.
Simon Linford, Director of Czero, commented: “Homes England uniquely understands the custom build model and the role it can play in housing delivery, particularly on smaller sites like Lavender Bank. The Home Building Fund has met a real need with this form of lending.”
Chris Raybould, Senior Manager at Homes England, said: “The Home Building Fund is specifically designed to support small builders and custom builders as well as larger builders and developers. Given that custom build schemes remain scarce in number, Czero Developments had found traditional development finance difficult to obtain so we are pleased to have been able to work with them to help make this project a reality.”
Homes England’s Home Building Fund helps unlock or accelerate the delivery of residential and mixed-use housing developments.
